Prudential Financial Inc. Has $11.46 Million Stock Position in AdvanSix Inc. (NYSE:ASIX)

Prudential Financial Inc. increased its position in AdvanSix Inc. (NYSE:ASIX) by 90.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 402,250 shares of the company’s stock after buying an additional 190,727 shares during the period. Prudential Financial Inc. owned 1.50% of AdvanSix worth $11,460,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in AdvanSix by 48.6% in the third quarter. Wellington Management Group LLP now owns 469,685 shares of the company’s stock worth $14,269,000 after acquiring an additional 153,686 shares in the last quarter. Oliver Luxxe Assets LLC bought a new position in shares of AdvanSix in the 4th quarter worth $1,403,000. Barclays PLC lifted its holdings in shares of AdvanSix by 319.2% in the 3rd quarter. Barclays PLC now owns 42,952 shares of the company’s stock worth $1,305,000 after purchasing an additional 32,706 shares in the last quarter. JPMorgan Chase & Co. grew its position in AdvanSix by 14.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 104,584 shares of the company’s stock valued at $3,177,000 after purchasing an additional 13,316 shares during the period. Finally, Jane Street Group LLC increased its stake in AdvanSix by 162.8% during the 3rd quarter. Jane Street Group LLC now owns 51,513 shares of the company’s stock valued at $1,565,000 after purchasing an additional 31,915 shares in the last quarter. 86.39% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $30.19, for a total transaction of $150,950.00. Following the completion of the transaction, the chief executive officer now owns 502,795 shares in the company, valued at approximately $15,179,381.05. This represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. UBS Group set a $35.00 price objective on shares of AdvanSix in a report on Tuesday, March 18th. Piper Sandler dropped their price target on shares of AdvanSix from $39.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Finally, StockNews.com lowered AdvanSix from a “buy” rating to a “hold” rating in a report on Monday, March 24th.

AdvanSix Price Performance

ASIX opened at $22.57 on Friday. AdvanSix Inc. has a 1 year low of $20.86 and a 1 year high of $33.00. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.08 and a quick ratio of 0.49. The company has a market capitalization of $603.61 million, a price-to-earnings ratio of 14.02 and a beta of 1.73. The firm’s fifty day moving average price is $27.84 and its two-hundred day moving average price is $29.09.

AdvanSix (NYSE:ASIX) last released its quarterly earnings results on Friday, February 21st. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.40. The business had revenue of $329.06 million for the quarter, compared to analysts’ expectations of $377.15 million. AdvanSix had a net margin of 2.91% and a return on equity of 6.26%. As a group, analysts anticipate that AdvanSix Inc. will post 4 earnings per share for the current fiscal year.

AdvanSix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Monday, March 10th. AdvanSix’s payout ratio is 39.75%.

AdvanSix Profile

AdvanSix Inc engages in the manufacture and sale of polymer resins in the United States and internationally. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce fibers, filaments, engineered plastics, and films. The company also provides caprolactam to manufacture polymer resins; ammonium sulfate fertilizers to distributors, farm cooperatives, and retailers; and acetone that are used in the production of adhesives, paints, coatings, solvents, herbicides, and engineered plastic resins, as well as other intermediate chemicals, including phenol, monoisopropylamine, dipropylamine, monoallylamine, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.